The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1887-12-22

culation of these statements in the

United States clearly points to DIFF
ferent purpose. and that it is only a
new and more subtle form of free
trade mission work, The open assaults
of Mongredien and others having
proved failures, and the Golden Club
having formally acknowledged that
the american farmer could not be de-
luded in that way, this new way has
been adopted, with what partial sue
cess may be seen in the efforts of Col.
Beverly. late President Of the Farm !
erS' Congress. to persuade his fellow I
| farmers that they wtr 2ritvoasly OPP !
pressed with taxes This claim "f
| Col. Beverly met with the defeat it
always will in the the presence Of in
telligent farmers But the story Of
excessive taxes continues to circulate.
Harper Brothers, the eminent pub
fishers, have lately reprinted, iii cheap
form for wide circulation, book en-
titled "England's Supremacy" by j.
S. Jeans. an English economist, in
which this statement about the suffer-
ings of our farmers is the basis of an
argument against Protection.
Farmers do not, however, need to
be instructed bv English economists
as to their interests. They have always
been competent TO take care of their
own affairs-from the days of the pro-
tectionist farmer, Washington, down
to the time of the Farmers Congress,
lately held in Chicago But for the
benefit of those who are not farmers
aud. therefore. may be miSled by plaus-
ible statements of free trade econo-
mists, we give here the result of a
car-fui inquiry as to the condition Of
American farmers by Edward Atkin-
son. one of the best known Of our in
vestigators and writers on economic
subjects.
2 We quote from a letter written by
: Mr. Atkinson and published in Brad
. streets of November 10Th, and it will
) be seen how completely the facts
which he gives overthrow this free
!, trade argument that protection has
r impoverished our farmers, Mr. At
a kinson says:
! Among the various objections or
r. criticisms which were made in the
columns Of the London Times were
several very positive assertions that
e the Western farmers Of this country
4 were generally bankrupt, or were los
ing money, especially on wheat, and
! were being eaten up by mortgages
: and taxes. 1t occurred to me, howev-
3 er, that these statements could doubt
g less be disproved by giving the exper-
2 ience of some of the corporations OF
: firms which have been in the business
! of lending Eastern capital upon
mortgages secured by Western farms
during the last few years.
In reply to my question, have re-
ceived ten communications, covering g
, term of years ranging from four to
u thirty-eight. A summary Of the re-
plies, disregarding fractions, is as fol-
lows:
S Number of mortgages, 100000.
:, Total smount loaned, $180.OOO,0O0
Y Average per mortgage. $780,
Already paid, 10000 mortgages.
> Amount outstanding, $75.000,000
Number Of mortgages outstanding
S $1,000.
o The total number of foreclosures is
4 not given in all cases; in some the
! amount is given, in others the num-
l ber. By computation on the average
the total number cannot exceed 1000
:, The reduction in the rate of interest
:, has been from 10 per cent annual in
terest and 1C per cent commission on
! five years mortgage to an average
of 81 to y per cent, at the present
t time, without commission.
e The business ''has, to great extent
Il ceased in Ohio, Indiana and Illinois
:. ard we might also include Iowa; but
. it is still conducted farther West, in
|, Kansas, Nebraska. Dakota" etc
MANY of those to whom loans were
!. first made are now lenders through
Y the same corporation"
. 1.-THE present conditions indicate
: widespread and almost universal pros
e perity."
t [ have attempted to see if there was
a any difference in the conditions Of the
q wheat-growing sections and the corn
. growing sections, but | have found
none.